Unemployment rate and full-time workers both drop

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Australia’s unemployment rate has hit an eight-year low, but another feature of the ABS jobs data may be more of an interest rate indicator.

Part-time employment drove an overall increase in the number of people with jobs during the month, but seasonally adjusted data released today by the Australian Bureau of Statistics showed a 7300 drop in the number of people employed full-time.

“The fall in the unemployment rate to an eight-year low in February suggests that the RBA will remain its optimistic stance for now, but we still think that the labour market will soon start to slacken again,” said Mr Thieliant.

 

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